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Corporate History Newsmax Inc. (the Company ) is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc. ( Newsmax Media ). Newsmax Media and its other subsidiaries operate the businesses described herein.
The business is unprofitable at the operating level (-52.76% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 10.7%, still solid. Margins contracted 11.9pp, which offsets some of the top-line progress.
Negative free cash flow of -$107M. The business is consuming cash, not generating it. Operating margin contracted 11.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$196M
▲ +10.7% YoY
Net Income (TTM)
-$84M
▼ -37.9% YoY
Op. Margin
-47.42%
▼ -11.9pp YoY
ROIC
-64.41%
▲ +539.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$94M
▼ -115.6% YoY
Op. Cash Flow (TTM)
-$91M
▼ -114.5% YoY
Net Debt
-$9M
Net Cash Position
Cash & Equiv.
$17M
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